An OnDeck term loan is a type of small business financing that provides a one-time lump sum of cash with a fixed repayment term and interest rate. It is suitable for larger investments in your business, such as purchasing equipment, expanding or renovating, or consolidating debt.
OnDeck offers term loans from $5,000 to $250,000 with repayment terms up to 24 months. To qualify for an OnDeck term loan, you need to meet the following minimum requirements:
- 1 year in business
- 625 personal FICO® score
- $100K business annual revenue
- Business checking account
If you are interested in applying for an OnDeck term loan, you can complete the online application in minutes and get a decision quickly. If approved, you can receive your funds as soon as the same day. You can also check your eligibility without affecting your credit score.
- No hard credit pulls
- Fast funding
- Build business credit history with on-time payments
Option to repay early and have all remaining interest waived
Lower origination fee for renewing customers
I hope this information was helpful. 😊
.jpeg)
.jpeg)